Trump Media & Technology Group (NASDAQ:DJT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Trump Media & Technology Group from “strong sell” to “sell,” while Weiss Ratings separately lowered its rating to “sell (e+).” The stock retains an overall “Sell” consensus.
• DJT shares opened at $8.11, down 1.1%, with a $2.25 billion market capitalization and a 52-week range of $6.96 to $17.09.
• Institutional investors including BlackRock and State Street recently increased or initiated positions, but institutions collectively own only 4.29% of the company.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Trump Media & Technology Group Stock Down 1.1%

Shares of Trump Media & Technology Group stock opened at $8.11 on Friday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -1.66 and a beta of 4.07. The stock's 50-day simple moving average is $9.01 and its 200-day simple moving average is $8.91. Trump Media & Technology Group has a 52 week low of $6.96 and a 52 week high of $17.09.

Institutional Trading of Trump Media & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of DJT. BlackRock Inc. purchased a new stake in Trump Media & Technology Group in the 2nd quarter worth $101,684,000. State Street Corp grew its position in shares of Trump Media & Technology Group by 32.0% during the second quarter. State Street Corp now owns 4,191,672 shares of the company's stock valued at $32,444,000 after purchasing an additional 1,015,305 shares in the last quarter. Yorkville Advisors Global LP purchased a new position in shares of Trump Media & Technology Group during the second quarter valued at about $17,618,903. Clear Street Group Inc. increased its holdings in shares of Trump Media & Technology Group by 323,356.9% in the fourth quarter. Clear Street Group Inc. now owns 1,297,062 shares of the company's stock worth $17,173,000 after purchasing an additional 1,296,661 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in shares of Trump Media & Technology Group in the first quarter worth about $6,598,000. 4.29% of the stock is currently owned by institutional investors.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.

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